Weekly CNFT Brew

July 26, 2022

Your 15-minute catch-up on the CNFT world as you enjoy a nice brew, sponsored by QUEEN ADA stake pool and CNFT Jungle. Through research and help from my community, I bring you CNFT news, market analysis, and more. Happy reading.

CNFT Espresso

Your 1-minute TL;DR of the Brew:

  • Jellycubes by Block Investment Group took the CNFT space by storm with a fast sellout and strong secondary market performance.

  • Pixl.page nears their first mint and offer projects a unique profile link NFT.

  • SpaceBudz prices continue to fall due to the uncertainty of the future of their artwork.

  • Mocossi launches their liquidity bootstrapping event with Minswap and have raised ₳1.6M so far.

  • Clumsy Valley, Clumsy Ghost's land plot sale, will take place in September.

  • Eikonikos plans to airdrop Genesis Hoodies to Passport holders in July

  • Wild Tangz is a fast-growing project that recently published an app that allows collectors to display NFTs on their phones.

  • 500 Days of Cardano NFTs, highlighting the history of the Cardano NFT space sold out.

  • CNFT News celebrated their 1-year birthday with a stream and an NFT mint.

  • JPG.store continues their video series, this time with a video on how to buy & sell NFTs on mobile.

  • Booktoken released the first decentralized encrypted eBook.

  • W3:Ride finally revealed their Riders

  • Dogs on Chain became the first "free" mint to rug pull its investors.

  • Phoenix Arena announced their third drop in September, Fluffy.

  • Claypez partnered with Mutants for their staking platform needs

  • Yummi Universe takes a snapshot for their upcoming Summer Naru drop.

Last week’s drop highlights:

Upcoming mint highlights:

The Highlights

Jellycubes by Block Investment Group took the CNFT space by storm with a fast sellout and strong secondary market performance. The project is led by the YouTuber Block Is Hot and is one of the most recent and ambitious alpha/investment project on Cardano.

At 200 ada mint price, the collection sold out very fast and approaches a ₳1k floor price despite the bear market conditions.

Pixl.page nears their first mint and recently offered projects a unique profile link NFT. The team is creating a service that offers projects and collectors an impressive suite of features to enjoy and share NFTs on Cardano. More on their upcoming mint in the mint section below.

Mocossi launches their liquidity bootstrapping event with Minswap and have raised ₳1.6M so far. The project has consistently impressed and delivered to this point, building excitement in the community.

Clumsy Valley, Clumsy Ghost's land plot sale, will take place in September. These SVG land plots are a part of a browser-based and mobile ready play-to-mint ecosystem.

Eikonikos plans to airdrop Genesis Hoodies to Passport holders in July. They recently fully revealed all different types of hoodies, which correspond to the Genesis Passport type. With only a few days until August, Passport holders can expect the airdrop to hit their wallets any day now.

Wild Tangz is a fast-growing project that recently published an app that allows collectors to display NFTs on their phones. See my full interview with the creator here. The project quickly gained popularity after a slow start to their mint and now sits at almost ₳290k in volume and ₳150 floor price (₳30 mint price)

The project is unique in the sense that it offers open source services to holders. It also launched an app that allows users to show their NFTs on their phones.

500 Days of Cardano NFTs, highlighting the history of the Cardano NFT space, sold out last Sunday. This was a personal passion project of CardanoThor (me) and the first stage of a larger Cardano NFT history project. Collectors of all 6 frames will be able to redeem a collector's trophy later this week.

CNFT News celebrated their 1-year birthday with an impressive stream event and their Yearbook NFT mint (still minting).

JPG.store continue their video series, this time with a video on how to buy & sell NFTs on mobile. The series is a collaboration with the popular Cardano YouTuber @jackfriks

Booktoken released the first decentralized encrypted eBook. Booktoken is an NFT marketplace and exchange for buying, reading, and selling books and the first of its kind on Cardano.

W3:Ride finally revealed their Riders, the other half of their bike and rider NFTs, both a part of the W3:RIDE project. These assets will later have utility in the first-ever Ride2Earn app on any blockchain.

Dogs on Chain became the first "free" mint to rug pull its investors last week. After collecting ₳3 per NFT and promising it back, minus fees, with the NFT, they simply disappeared with the funds. This is one of many "free" mints in recent weeks and a part of a greater trend but thankfully the only scam.

The community is seemingly becoming more cautious of new "free-to-mint" projects popping up, including the below Bunnies on Chain.

Phoenix Arena announced their third drop in September, Fluffy. The project is building a P2E NFT game on Cardano and is expected to release their whitepaper 2.0 next month.

Claypez partnered with Mutants for their staking platform needs. They will distribute 10% of their royalties (₳8.5k) to holders through the staking process.

Yummi Universe takes a snapshot for their upcoming Summer Naru drop. The snapshot will be taken today, Tuesday at 4PM UTC. Anyone who wants to mint a Summer Naru will need to delist their OG Naru from marketplaces before then. More minting details in the upcoming mints section below.

This Week

This section includes all the drops that I’m excited about this week and feel comfortable recommending. In other words, this is a curated list. To see a more complete list, check out wencnft.com.

Pixl.page (Nano frames team) is creating an impressive Web3 service for traders, collectors, and projects on Cardano. Traders can follow their favorite sellers, collectors can build customized galleries, and projects can aggregate statistics on their collections, among other things.

Their upcoming Genesis mint will give holders a lot of future utility, including free lifetime premium features, 2 free profile links, and more. Only their first minting window (WL) has been announced, so check out their Discord server for more information.

When: Wednesday, 3PM UTC (WL)

How much: 80 ADA

How many: 16,000

Yummi Universe is holding its Summer Naru sale this Wednesday. As usual for their season drops, OG holders can send in another seasonal Naru + ₳40 (or equivalent $YUMMI) for a Summer Naru. The OG Naru snapshot was taken today (Tuesday)

When: Wednesday, 4PM UTC

How much: 1 Seasonal + ₳40

How many: 3,500

Wolves of Rome is an exciting upcoming card game on Cardano. Watch my interview with one of their team members on YouTube here. They have been working on their game for a while and have assembled an impressive team.

Their first mint is called the Empire Wolves that come packed with utility for their upcoming game. Read all about it in their whitepaper here.

When: Thursday (WL), Friday (public), 8PM UTC

How much: ₳180

How many: 2,000

Fort Gotten continue their collaboration series, this time with a Unv.25 collab drop. This is the 5th drop in their limited series, where only 100 are available each drop.

When: Friday, 4PM UTC

How much: ₳50 (or $YUMMI equivalent)

How many: 100

Rokkunoru is an exciting project that aims to build a comprehensive brand with long-term plans and focus on the future. They will start with their Rokku Keys drop, which will act as an access key to all things Rokkunoru in the future. Find more details on the collection on their website.

The community has generally been impressed with both the quality of their vision and design, from the website to the NFTs themselves. The mint has a limit of 2 per wallet and transaction.

When: Friday, 6PM (WL) 8PM (public)

How much: ₳150

How many: 1,000

OddBoyz is a unique project by a graffiti artist-turned digital NFT artist. With two successful drops under his belt, he is now launching the OddArmy collection of 500 1/1 NFTs.

When: Friday (WL), Saturday (public), 8PM UTC

How much: ₳115

How many: 500

BlockOwls needs no introduction as the most successful animated non-pfp project on Cardano. This week, they are dropping another seasonal mint where a large portion of proceeds go to charity.

When: Saturday, 3PM UTC

How much: ₳20

How many: 1,000

Dream Skate is a unique project by a quality Cardano NFT community member Omar. It focuses on the skateboarding culture but also invited 10 different artists to collaborate on their collection, each one creating 500 NFTs in their unique style.

When: Saturday, 3PM UTC

How much: ₳20

How many: 1,000

The Mallard Order is possibly the largest drop happening this week, with immense demand already being created in their Discord server. Their focus on community engagement has been very successful and they are sure to sell out their collection of 6,500 ducks this week.

When: Saturday 5PM UTC (WL), Sunday 5PM (public)

How much: ₳90 (WL), ₳130 (public)

How many: 6,500

Ragnarök Reptiles is a sci-fi based project inspired by Norse mythology. Considering the popularity of Marvel movies and Norse mythology in popular culture, it's no surprise to see considerable excitement for their upcoming collection.

When: Sunday, 5PM UTC (WL), Monday (public)

How much: ₳80

How many: 3,700

Space Pugs Poker Club is another project by the Space Pugs Alpha team with the aim to build their own poker platform. Each NFT will consist of a 7,777 poker starting hands and will give holders utility depending on their strength.

When: Sunday, 00:01 AM UTC (WL), 4PM (public)

How much: $37.5 (WL) - $60 (public)

How many: 7,777

CNFT Radar

Here is where I list all projects that are not minting this week but are already on my radar. New additions in bold.

Market Analysis

We continue the treacherous journey through the bear market. In terms of volume, there is not much to report. After significant growth in Q1, we have returned to 2021 Q4 levels with daily volume only occasionally recording above ₳1M. 30-day volume is down almost 40% but 7-day volume only about 1%, so the rate of decline has been slowing down. On the 24-hour chart, we are looking even better with almost 30% increase in volume. We can and might go lower, but it will likely not feel much different from what we are experiencing these days.

On the positive side, we are about to see a massive minting week, which could ignite a refreshing pump for the Cardano NFT market and present opportunities to profit. Expect this section next week to report an increase in volume and a somewhat more positive short-term outlook.

The numbers (last 7 days)

  • Total ADA volume: ₳5.9 million (-1.3%)

  • Total CNFT Volume: 27,561 (-15%)

Top 5 Marketplaces

  1. JPG.store: 5.5M, 97% market share 🏆

  2. SpaceBudz: 68k, 1.2% market share 🥈

  3. CNFT.io: 35k, 0.6% market share 🥉

  4. PXL.org: 23k, 0.4% market share

  5. Epoch.art: 6k, 0.1% market share

Top Volume Gainers (%)*

  • AdaverseX 🥇(6.6k)

  • Aeoniumsky (3.6k) 🥈

  • Baby Alien Club 3D (1.6k)🥉

  • Dream Space (1.5k)

  • Prismatics (1.3k)

Top Volume Losers(%)*:

  • JPG's Chonky Hippo (-96)

  • CardanoBits (-90)

  • Winged Warriors (-89)

  • H.Y.P.E. Skulls (-86)

  • Brightpalz (-85)

Top Newcomers

  • Jellycubes - BIG: ₳546k, ₳1,050 floor

  • Hungry Cows: ₳453k, ₳70 floor

  • Trippy Goats: ₳76k, ₳11 floor

*Only projects that record at least ₳1k over the past 7 days are included

Underrated

These are this week’s most underrated investment opportunities and artists. This is a highly subjective section so please DYOR

Some of my previous blue chip picks are still relevant and would be my choice today if I hadn't picked them already, including Clay Nation, Yummi, and others. Check out my undervalued picks from previous issues.

Investment Opportunity: Mocossi

Having already hit many impressive milestones on their roadmap and building a community that is stronger than ever, I believe Mocossi could be a good pickup at these prices. If they continue to deliver, I think they could bridge the floor price and volume gap between them and Yummi Universe and move above the ₳500 floor price in the next few weeks. Their original ITOs collection is ranked 25th in overall volume but I fully expect them to break the top 20 soon and move even faster up the combined collections chart with their ITO2s and Land plots increasing in popularity.

Artist: Steve3p_0

I never thought I'd refer to Steve3p_0 as an underrated artist on Cardano after the hype he received in the early days. But as he continues to produce more art, his work has gone under people's radars. He is one of the best photo manipulation artists on Cardano and has a lot of loyal followers so it's a shame that new people entering the space don't see his work.

His latest collection Embryosis takes his work to the next level with an impressive concept and animated NFTs.

Thor's Thoughts

What is a rug pull? This is something I've been rethinking lately after a heated debate about one of my recent tweets. The standard definition goes something like this:

"a malicious act in which crypto developers lure in early investors and then abandon the project by either (1) taking off with the project funds or (2) selling off their pre-mined holdings, with the intention of draining all funds from investors"

But can we have different kinds of rug pulls and is there any flexibility in this definition? You can cause significant financial damage to investors without fitting the above definition. In the strictest sense of the word, a rug pull implies malicious intent by the creators/developers. That leaves us with many scenarios that fall short of that definition.

  • Failed "experiments"

  • Developers giving up/failing despite best efforts

  • Abandoning a project that was free in the first place

  • Accidentally losing investors money through careless actions

  • Not delivering on promises intentionally, but refunding everyone

Because of the gray area we're entering here, it's easy to see why this continues to be a highly debated topic on Twitter.

I don't pretend to have all the answers. But as rug pulls become more common and governments start treating them more seriously, leading to criminal charges in some cases, we might want to take a minute to think about how we use this term. An entrepreneur's failure or lack of judgement, despite best efforts, surely doesn't deserve to be labeled the same as a scammer who faces serious criminal charges.

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